CAT LAE definition

CAT LAE means the reimbursement paid by FCIC for eligible crop insurance contracts at the CAT level (as authorized in section 508(b) of the Act) (7 U.S.C. § 1508(b)) in accordance with section 508(b)(11) of the Act (7 U.S.C. § 1508(b)(11)).

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CAT LAE means the reimbursement paid by FCIC for catastrophic level eligible crop insurance (CAT) contracts (as authorized in section 508(b) of the Act) (7 U.S.C. § 1508(b)) in accordance with section 508(b)(11) of the Act (7 U.S.C. § 1508(b)(11)).

Examples of CAT LAE in a sentence

• The A&O subsidy and CAT LAE shown on the September monthly settlement report following the end of the reinsurance year, will not be netted with amounts due from the Company, but will be paid no later than the third business day of October.

• If the Company fails to comply with this provision, FCIC may deny all or a portion of A&O subsidy or CAT LAE.

• The initial payment to the Company of A&O subsidy and CAT LAE will be based on information reported on the September monthly settlement report following the end of the reinsurance year, and will be adjusted monthly thereafter.

• Payment of A&O and CAT LAE will be made by the FCIC to the Company at the first monthly settlement after the Company submits, and PASS accepts, the eligible livestock price insurance contracts, and will be updated each month thereafter as needed.

• General Terms (1) To receive reinsurance, A&O subsidy, CAT LAE, and risk subsidy under this Agreement, an insurance contract must qualify as an eligible crop insurance contract, except as otherwise specified in this Agreement.